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DIRECTIVE No

DIRECTIVE No.25/1998/CT-TTg of June 30, 1998 on the elaboration of the 1999 socio-economic development plan and State budget estimate

The Directive clearly states the principal contents and tasks of the 1999 plan and the tempo of elaboration of the 1999 plan.

The principal tasks of the 1999 socio-economic development plan include:

- To strive to maintain the economic growth rate at a level not lower than that of 1998. To continue giving priority to the agricultural development as a basis for socio-economic stability and development; to remove obstacles in industrial production, to adopt specific measures to raise the production output and competitiveness of each branch and each product, considering it the central task to create the development capability of the economy.

- To create favorable conditions for stepping up the export by all economic sectors. To promote marketing research and trade, to seek and expand markets, to increase the export value and foreign currency revenue sources. To apply the regime of reasonable protection of the domestic production suitable to the process of participation in the AFTA and other international commitments. To continue stepping up combat against smuggling and trade frauds, to apply the affixture of stamps on commodity items the market demand for which can be satisfied by the domestic production.

- To mobilize and efficiently use investment capital sources, with special attention being paid to domestic capital sources; to accelerate the process of re-arranging the State enterprises, to carry out the equitization according to the set program; to create a more favorable environment in order to attract foreign direct investment capital; to readjust the investment structure along the direction of giving priority to the manufacture of export products and projects which may soon yield economic efficiency, quickly retrieve the capital and render investment and development support for difficulty-stricken areas. To ensure the conditions in terms of reciprocal capital and project site clearance so as to quickly disburse the ODA capital sources already committed; and at the same time, to apply measures to raise the efficiency of the use of such capital sources. To tightly manage the borrowing and payment of foreign debts by enterprises.

- To develop and stabilize the national finance, to rationally mobilize taxes and fees into the State budget. To thoroughly save the regular expenditures so as to increase the development investment spending. To raise the operating capability and quality of the banking system; to mobilize all capital sources to meet the needs of the economy, especially long-term and medium-term capital. To open pilot securities markets in Hanoi and Ho Chi Minh City. To stabilize the currency value and keep the inflation rate at the below-two digit level.

- To continue solving the pressing social issues, focusing on measures to create more jobs for laborers and promote democracy at grassroots levels. To develop education, culture and information; to raise the people's living standards; to execute the program for socio-economic development in poor communes; to care for and protect the people's health; to effectively prevent the social evils;

- To integrate the objectives of various national programs executed in the same locality and ensure the practical efficiency of each program. To incorporate programs and objectives which will as from 1998 no longer be of national scale into the regular tasks of the ministries, branches and localities;

- To consolidate the national defense and security, to ensure the order and discipline in economic and social activities.- (Summary)